Topic – Indian Economy and issues relating to planning, mobilization of resources, growth,
development and employment.
6) Doubling India’s share of exports to the world is critical for India to achieve double digit growth. Discuss the challenges in achieving this target and highlight benefits of boosting exports?(250 words)
Why this question
The article highlights the dream of the present government with respect to doubling India’s share in total exports. The article discusses the issues involved therein and explains why doubling exports is so critical for the country. There has been a lull in exports and with import bills touching sky high on account of energy imports, we need to devise new strategy.
Key demand of the question
The question expects us to bring out the reasons why doubling exports is necessary, the various challenges that will come before us in trying to double our exports and the impact of having achieved this target on our economy.
Discuss – Here in your discussion, you need to explain the challenges to enhancing exports for India and the impact of boosting exports for Indian economy.
Structure of the answer
Introduction – Talk about the goal of doubling exports as envisaged by Narendra Modi. Give data on India’s current share in the export pie.
Body – bring out the reasons why boosting exports is necessary for India. Here you should give the usual reasons which we study in basic macroeconomy. Next, we need to bring out the challenges faced in boosting exports – international competitiveness of manufacturing has not made great strides, reflected in the declining manufacturing export-GDP ratio and manufacturing trade balance; segments of exports continue to go substantially in primary form and not in a value-added mode etc. Discuss the impact of boosting exports for Indian economy.
Conclusion – Emphasize on the need for such an aim and discuss the way forward.